Simultaneous Closings - Posted by ChrisW

Posted by John J. on November 30, 2000 at 21:48:20:

I have not had a problem doing simultaneous closings. It is often not the title company, but the individual title officer who is not familiar with this. I would specify in the offer to use your own. Sellers should not care - they all charge the same - or it should at least be a much lower priority than price and terms.

Simultaneous Closings - Posted by ChrisW

Posted by ChrisW on November 30, 2000 at 08:09:52:

I have been making cash offers on many houses that I intend on flipping to other investors. I want to do simultaneous closings on these properties but I am concerned that if the sellers title company is used, that they might not allow this type of closing. My title company will allow simultaneous closings,so should I make that a contingency in my purchase agreement(use of my title company)? If I did put this contingency in my contract when making offers, do you think that I will get a lot less of them accepted? How else should I handle this situation? Have you all had similar experiences with title companies not performing simultaneous closings? Thanks

Re: Simultaneous Closings - Posted by dewCO

Posted by dewCO on December 01, 2000 at 10:53:39:

If you’re purchasing direct from sellers it probably won’t matter. But if a realtor is involved they usually like to use their own. You could let them have their way if necessary and then switch to yours if they can’t get it done. It shouldn’t be a fatal problem. I don’t know that I would advertise to the seller that I want to use my title closer because of the flip I’m going to do! Just say, you just always use this closer, because they are good and if any questions or problems come up they are very good at solving and getting the deal done.

Re: Simultaneous Closings - Posted by TC

Posted by TC on November 30, 2000 at 21:54:43:

Chris,If you will let this be known up front then you really shouln’t have a problem.I would tell the seller that I like to use the title co. of my choice for the reason that they have the knowledge of these type closings and this will assure that it will close.

A title co. that works with these type investors will also help it go smoother with the lender.